Economy

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

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US households lost an estimated $6.8 trillion in wealth in the first three quarters of 2022 as the SPX stock market, -0.73% DJIA, -0.90% COMP, -0.70% has lost more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts. Nominal net worth fell 4.6% to $143.3 trillion, as the …

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Democrats' Push to Expand Social Security Isn't Fair to the Taxpayer

Democrats’ Push to Expand Social Security Isn’t Fair to the Taxpayer

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NEWYou can now listen to Fox News articles! Americans are afraid of retirement. Barely half of working-age Americans believe that Social Security will provide them with the same benefits that retirees receive today. More than two-thirds of Americans worry that workers cannot save enough on their own to ensure a secure retirement. After nearly four …

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The World's Largest Asset Manager Says We're Heading To A Whole New Economic Regime Characterized By These Three Big Global Shifts

The World’s Largest Asset Manager Says We’re Heading To A Whole New Economic Regime Characterized By These Three Big Global Shifts

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BlackRock’s best minds seem worried. Investment strategists at the world’s largest asset manager have warned of a coming recession, stubborn inflation and a new era that won’t be so kind to investors in their Global outlook 2023 released this week. “The Great Moderation, the period of four decades of largely stable activity and inflation, is …

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Why aren't there enough workers? - The Big Picture

Why aren’t there enough workers? – The Big Picture

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Last Friday’s strong payroll data sparked a lot of discussion about the current labor situation. Often oversimplified and devoid of context, it has created a somewhat misleading image. I have a few thoughts that I’ve been thinking about that will hopefully provide some of the missing context. The labor market presents challenges for investors. Take …

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Buyers dip into their savings and go into debt. This could cause a holiday hangover | CNN Business

Buyers dip into their savings and go into debt. This could cause a holiday hangover | CNN Business

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New York CNN — Despite high inflation and recession fears, the holiday shopping season seems to be off to a good start. Black Friday and Cyber ​​Monday sales were strong as Americans were lured by deep discounts. Although consumer spending is slowing, it remains surprisingly resilient. The problem, however, is that many Americans’ paychecks are …

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Raising interest rates to control inflation will only cause more pain | Joseph Stiglitz

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VSThe unwavering determination of central banks to raise interest rates is truly remarkable. In the name of controlling inflation, they have deliberately set themselves on the path to causing a recession – or making it worse if one happens anyway. Moreover, they openly acknowledge the pain their policies will cause, even if they fail to …

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How ChatGPT Could Disrupt Search Activity

How ChatGPT Could Disrupt Search Activity

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Illustration: Sarah Grillo/Axios A new artificial intelligence contraption called ChatGPT has set the internet on fire this week. Why is this important: Essentially an artificial intelligence (AI) interface that texts you like a know-it-all human, ChatGPT could portend major disruptions for Big Tech, especially for the search industry. How it works: Just type a prompt …

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Student loan forgiveness: Americans are divided on how it will affect the economy, but here's what the experts say

Student loan forgiveness: Americans are divided on how it will affect the economy, but here’s what the experts say

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President Biden had hoped a massive student loan forgiveness program would be one of his signature achievements, but the courts have blocked his plan to forgive up to $10,000 of federal college debt for millions borrowers (and up to $20,000 for Pell Grant recipients). Holiday expenses: Get the best holiday shopping and savings tipsTake a …

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How Disney Could Regain The Trust Of Its Lost Conservative Fans | The daily thread

How Disney Could Regain The Trust Of Its Lost Conservative Fans | The daily thread

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Disney’s new chief executive shocked the business community last week by admitting the company’s previous opposition to Florida parental rights legislation was a mistake. In a town hall with employees, new Disney CEO Bob Iger expressed regret that his predecessor and future successor, Bob Chapek, positioned the company against legislation that prohibits the teaching of …

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